PSBs must gear up to handle a big market

Abstract

With increasing emphasis on ‘Make in India’, public sector banks should be prepared to support a market growing organically. The finance minister has regularly been conducting quarterly review meetings with the chairmen and managing directors of public sector banks (PSBs) and financial institutions. The key focus of such meetings is to discuss the performance of PSBs, especially in wake of rising non-performing assets. The finance minister, according to press reports, has assured steps to continually empower the banks so that they can undertake effective banking. He also mentioned that PSBs have all the powers, full authority and autonomy to take action against defaulters. This is a very essential exercise at the highest level to fire-fight the critical situation of deteriorating asset quality and lend credibility to operations of PSBs. Indeed, such efforts would encourage PSBs to improve their performance and undertake banking fearlessly. Read more at: https://www.financialexpress.com/opinion/psbs-must-gear-up-to-handle-a-big-market/174085/